People often say “age is just a number,” but these days, some of those numbers are getting farther and farther apart.

For years now we have had 4 generations active in the workforce. The World War II generation has largely retired, but you will still see some of the youngest ones working. The Baby Boomers are still around in large numbers, and the expected wave of retirements has not really materialized yet, though HR leaders are planning for it. Gen X continues to rise into leadership positions (and, in many cases, spent the last decade starting their own businesses), and the Millennials are still pouring in. The 4-generation spread is a bit unusual, but lifespans continue to increase, people continue to work, and in some places (especially across Asia) a drop in birth rates has meant the labor force is shrinking even when business needs are growing. So companies are inclined to hire older people, especially in the service sector (the number of grandmothers working at McDonald’s in Singapore, for example, may astound a visiting American). If people do not have to stop working or if they gain little benefit from retiring, their incentive to keep working may still keep them active.

We are beginning to see a 5-generation spread. Whether you call them “Gen Z” or “NetGen” or something else, the post-Millennial generation is starting to graduate from school and enter the workforce. Are you ready, not only to manage the challenges of such an age-diverse talent pool, but also to take advantage of the opportunities it brings? How can you shape, and make the best use of, an organizational culture comprising all these different views and values?

We often think of our most creative and innovative employees as being young, because there is a perception that only young people can come up with new ideas. That’s a false assumption, though; creativity and innovation are determined by one’s brain, and outlook, and desires, not by a birth certificate. Smart organizations realize that “diversity” includes age diversity, and they incorporate the best every generation has to offer. Older workers have experience and corporate knowledge that can help you identify new opportunities, while new workers may not know what “cannot” be done, and therefore try plenty of fresh ideas. And of course, it is important not to stereotype based on age; an 80-year old can be open to new ways of thinking while a 20-year old can be stuck in a rut. Your goal is to get the best people regardless of age, and not limit your recruiting pool by focusing on only one or two generations that you think will be creative.

Having said that, managing different generations still requires an understanding of perspectives and attitudes that may be more prevalent in different age groups. Your older employees have experienced certain styles of work that are evolving; while these may be “status quo” for people just coming into the workforce, they represent a change for older workers, and change presents challenges that need to be addressed. Older workers may be more concerned with benefits such as health care for their families while younger workers focus on training opportunities in their new career. Older workers may be comfortable at the level where they are working while new employees may seek new opportunities for growth and advancement.

Managing multiple generations requires understanding multiple generations. It also requires moving beyond stereotypes and understanding the needs and abilities of each employee. Generalizations are helpful in identifying likely expectations they have and benefits they can confer, so it’s important to understand them, but that still does not replace knowing what each of your employees brings and what they need in order to perform at their best. It might be tough to pin down the differences between generations, but if you at least remember that there are likely to be some differences, and you are prepared for them, you will be ahead of the game.